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Medusa Beverages raises Rs 56 Cr in Series A funding

Entrackr · 2d

Medusa Beverages, a craft and premium beer brand, has raised Rs 56 crore ($6.6 million) in a Series A funding round co-led by Amal N. Parikh and Ashwin Kedia, with participation from Ramesh Damani, Nikhil Garg, Crest Opportunities, and other high-net-worth individuals (HNIs). The proceeds will be used to scale operations and strategically invest in synergistic partnerships across the value chain, Medusa Beverages stated in a press release. Founded in 2017 by Avneet Singh, Medusa Beverages is an Indian beer brand offering high-quality brews with bold flavors. The brand combines distinctive taste profiles with striking aesthetics to create a memorable beer experience. Specializing in a variety of lager beers, it caters to diverse palates, appealing to beer enthusiasts who value both quality and innovation. Medusa claims to have achieved market leadership in Delhi’s crown market within just five years of its product launch. The company aims to strengthen its market presence and continue its trajectory toward becoming a leader in the Indian alco-bev space. Medusa plans to expand operations, build a diverse portfolio of brands, and solidify its presence in key markets. The company is committed to focusing on growth, innovation, and delivering high-quality products to its consumers. The Delhi-based company reports having a presence in Delhi, Punjab, Uttar Pradesh, Chhattisgarh, and Himachal Pradesh. It also operates a brewery in Punjab. It competes with other players in this space, such as Goa Brewing, White Owl, Drink Monday, Bira 91, Amara Breweries, Foo Brew, among others.